Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.88 and traded as high as $55.09. Delek Logistics Partners shares last traded at $54.2680, with a volume of 42,404 shares changing hands.

Analysts Set New Price Targets

DKL has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and a consensus price target of $45.00.

Delek Logistics Partners Stock Down 1.2%

The company’s fifty day simple moving average is $48.20 and its 200 day simple moving average is $45.88. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 130.97. The firm has a market capitalization of $2.90 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were given a dividend of $1.125 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 8.3%. The ex-dividend date was Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio is presently 145.63%.

Institutional Trading of Delek Logistics Partners

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Delek Logistics Partners by 24.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after acquiring an additional 298,867 shares in the last quarter. Alps Advisors Inc. grew its holdings in Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after purchasing an additional 165,741 shares during the period. JPMorgan Chase & Co. grew its holdings in Delek Logistics Partners by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after purchasing an additional 99,500 shares during the period. HRT Financial LP increased its stake in shares of Delek Logistics Partners by 278.3% during the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after purchasing an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Delek Logistics Partners by 30.8% during the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after purchasing an additional 48,284 shares during the last quarter. Institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.